PSX extends rally for second session, reclaims 175,000 mark

The KSE-100 gained more than 3,365 points, roughly 2%, on Thursday to finish at 175,380, crossing 175,000 for the first time since September 1. The Express Tribune reported that lower international oil prices helped lift sentiment and encouraged buying across the market.

WTI slipped below USD 87 a barrel, while Brent dropped to USD 96 from USD 102 in the previous session, a decline of more than 8%. Arif Habib Ltd’s Ali Najib also pointed to the US election outcome and hopes of reduced Middle East tensions as factors supporting global risk appetite.

UBL, LUCK, MEBL, SYS, ENGROH, BAHL, HBL, HUBC, OGDC and PPL together contributed about 1,981 points to the index advance. Trading reached 997 million shares worth Rs46 billion, with CNERGY leading volume at 74 million shares.